BlockBeats News, May 7th, according to the Financial Times, UK and US officials said that the UK and US are set to reach a trade deal that will provide lower tariff quotas for UK steel and automotive exports.
The agreement, set to be signed this week, will shield some UK export goods from the full impact of the 25% additional tariffs on steel and automotive imports imposed by Trump in February and March. A senior UK official said the negotiations are still "moving rapidly," and noted that there are still differences between the two sides on pharmaceuticals. The UK's proposals include concessions to Washington on the digital services tax, reducing tariffs on US automotive exports, and lowering tariffs on US agricultural products. (IG)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.